TMI Blog2006 (7) TMI 136X X X X Extracts X X X X X X X X Extracts X X X X ..... led and the submissions made by the petitioner on its own merits in the light of the subsequent events since they have dislodged the validity of the adverse findings suffered by the petitioner. - application under section 273A of the Act is restored to the file of the Commissioner of Income-tax,. The proceedings are remitted back to him for consideration afresh following the principles of natural justice. - - - - - Dated:- 10-7-2006 - Judge(s) : V. C. DAGA., J. P. DEVADHAR. JUDGMENT The judgment of the court was delivered by V.C. Daga J.-Heard learned counsel for the petitioner. None for the respondents in spite of service. The facts: This petition is directed against the order under section 273A of the Income-tax Act, 1961 (" ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid findings led to the conclusion that there was no full and true disclosure by the assessee as required under section 273A of the Act and, therefore, the assessee/petitioner was held not entitled to any concession under section 273A of the Act. At this stage, it would be relevant to note that this petition was filed in this court in the year 1993; whereas the same is being heard after 13 years. During this intervening period some of the events, which have taken place have significantly affected the validity of the impugned order. They are: (a) the petitioner has proved that the jewellery worth Rs. 37,262 belonged to one Mrs. Panna S. Jhaveri and that the jewellery worth Rs. 1,36,044 belonged to one Mrs. Renuka G. Jhaveri, Master Harsh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve part of the impugned order, the submission made by Mr. Jhaveri needs acceptance. The apex court in the case of Gaya Prasad, AIR 2001 SC 803 ruled that subsequent events or developments occurred pendente lite can be considered; if it has the effect of overshadowing the original case found by the court below. In the case of Hasmat Rai v. Raghunath Prasad, AIR 1981 SC 1711 the apex court held that the magnitude of subsequent events or the dimension thereof should be such that it should have the effect of completely changing the colour of the original findings. In our considered view, the subsequent events brought on record have completely changed the colour of the original findings extracted in para. 2 supra. In the peculiar facts and circu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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